Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Statement of Finaneial Aetivities for the Year Ended 31 December 2022 Unrestricted funds Endowment runds Total 2022 Note Income and Endowment5 from: Donations Income from trading activities Other income J88,067 109,966 65 406,210 794,277 109,966 65 Total income 498,098 406,210 904,308 Expenditure on: Cost of generating funds Charitable expenditure Support costs (44,525) (94,36)) (434.110) (44,525) (94,363) (440,994) (6,884) Total expenditure (579.998) (6,884) {579,882) Net (expenditure)/income (74,900) J99,326 324,426 Net movement in funds (74,900) J99,326 324,426 Reconcilialion of funds Total funds Caled forward 17 (74.900) J99.326 Unrestricted funds J24.426 Total 2021 Note Income and Endoivments from: Donations Income from trading activities Other income 333,825 98,082 53,481 333,825 98,082 53,481 Total income 485,388 485,J88 Expenditure on: Cost of generating funds Charitable expenditure Support costs (41,275) (60,353) (357.807) (41,275) (60,353) (J57,807) Total expenditure (459.435) (459,4J5) Net income 25,953 Net movement in funds 25,953 25,953 Reconciliation of funds Total funds carried forward 17 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdowm for 2021 is shown in note 17. The note5 on pages 1 O to 21 form an integral part olthe5e finaTJcial statements.
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus (Registration number: 101422) Balance Sheet as at 31 December 2022 2022 2021 Note Fixed assels Tangible assets 2,IOJ,970 1,740,9J5 Current assets Stocks Debtors Cash at bank and in hand 12 5.975 5.797 6,050 14 67,879 50,396 77,866 Creditor5: Amount5 falling due within one year (56,804) (42,481) Net current {liabilities)lassets (6.408) Total assets less current liabilities 2,097.562 1,776,320 Creditors: Amounts falling due after more than one year 16 (3,184) Iyet assets ?.097,562 1,773.136 Funds of the charity: Endowment funds J99,326 Unrestricted income funds Unrestricted funds 1,698.236 1.77J, l J6 Total funds 17 2,097,562 1,773,136 The financial statements on pages 8 to 21 were approved by the trnstees, and authorised for issue on 27 October 202J and signed on their behalf by: Docusigned by. 2657449B8EM&4.:..... Mrs Bridget Madden Trustee DA¢2Za597£..... Mrs Marie Madden Trustee The note5 on pages 1 O to 21 form an integral part olthe5e finaTJcial statements.
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 l Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Iland (FRS 102) and the Charities Act 2011. Basis of preparation An Invitation To Love Jesus meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the hisiorical cost convention M'ith items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there a no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Volunlary income including donations. gifts. le£acies and grdnls that provide core funding or are of a general nature is recognised 'hen the charity has entiilement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that categorv. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisingfunds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charilable aclivilies Charitable expenditure comprises those costs inCued by the charity in the delivery, of its activities and services for its benefjciaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All expenditure is accounted for on an accrual basis. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resource5, for example. allocating property Costs by floor areas, or per capit4 staff costs by the time spent and other costs by their usage. Page 10
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Taxation The charity is considered to pass the tests sel out in Paragrdph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capitsl gains received withln categories covered by Chapter J Part I l of the Corporalion Tax Aci 2010 or Section 256 of the Taxatioi) of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets The historic cost of fixed assets up to J 1st December 2014 is its estimated purchase cost. together with any incidental costs of acquisition. New fLxed assets acquired since I st January 2015 are recorded at purchase cost together with any incidental costs of acquisition. Depreciation is calculated so as to MTite off the cost less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to HTite off the cost OT valuation, le55 any estimated residual value, over their expected useful economic life as folloM'.5- Asset Class Buildings Plant & machinery Fixtures & fittings Motor vehicles Depreciation meihod and rate 2 % straight line 15 /0 Straight line 7% straight line 25 /0 reducing balance Stock Stock is valued at the lower of Cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is deternlined using the first-in, fit-OUt {FIFO). Trade debtors Trade debtors are amounts due from Custome for merchandise sold or services perfornied in the ordinary course of business. Trade debtors are recognised inilially at the transaction price. They are subsequently measured at amortised cost using the effective interest metho(L less provision for impainnent. A proi'ision for the impainnent of trade debtors is estsblished when there is objective evidence thai the charity will not be able to collect all amounts due according to the original tenns of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-tenn highly liquid investments that are readil), convertible to a know'n amount of cash and are subject to an insignificant risk of change in value. Pagell
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Trade credilors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as curreni liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlemenl of the creditor for ai least tw'elve months after the reporting date. If there is an unconditional right to defer settlemeni for at least tw'elve months after the reporting date. they are presented as non-current liabilities. are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value. net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost. with the difference between the proceeds, net of transaction costs. and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrom'in Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Financial instruments Classificution Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 12
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Recognilion and measurement All financial assets and liabililies are initially measured at transaction price (including transaction costs), except for those financial assets classified as ai fair value through profit or loss, M".hich are initially 1CasUred at fair value (which is nornlally the transadion price excluding transaciion costs). unless the arrangement constitutes a financing transaction. If an arrangement constitules a financing transaction. the financial asset or financial liability is measured at the present value of the fuiure payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognlsed amounis and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flom's from the rinancial asset expire or are settled. b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset. or c) the charity. despite having retained some, but not all, significant risks and rew'ards of ownership. has transfeed control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract 15 discharged, cancelled or expires. Page li
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Debl instruments Debt instruments 'hICh meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual retum to the holder is (i) a fixed amounl- {ii) a positive red rdte or a positive variable rate; or (iii) a combination of a positive or a negative fixed rdte and a positive variable rdte. (b) The contract may provide for repaymenls of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leverdged. (c) The contract may provide for a deterniinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than ( l) a change of a contractual variable rate- (2) to protect the holder against credit deterioration of the issuer- (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (li) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could. by its tern15. result in the holder105ing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that permit the issuer to prepay a debt instrument or pennit the holder to put it back to the issuer before maiurity are not contingent on fulure events. other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer. or lo protect the holder or issuer against Changes in levies applied by a central bank or arising from changes in relevant taxation or law. (fj Contractual provisions may pennit the extension of the terni of the debt instrument. provided that the retu to the holder and any other contractual provisions applicable during the extended tem) satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable M'ithin one year on initial recognition and which meet the above conditions are measured at the undiscounled amount of the cash or other consideration expected to be paid or received. net of impainnent. With the exception of some hedoing instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impainnent. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairnient. Investments in 5ub5idiarie5 and associates are vneasured at cost le55 impairnient. For investments in subsidiaries acquired for consideration including the i55ue of share5 qualifying for merger relief, c05t is measured by reference to the non]inal value ol the shares i55ued plus fair value of other consideration. Any pretnium is ignored. Page 14
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Derivalivefinancial inslruments The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derlvatives are initially recognlsed at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activiiies immedialely unless the derivative is designaied and effective as a hedging instrument, in which event the liming of the recognition in statement of financial activities depends on the nature of the hedge relationship. Fair value measuremenl The best evldence of fair value is a quoted price for an idenlical asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value. the fair value is estimated by using a valuation technique. 2 Income from donations Unrestricted funds General Endown]ent fund5 Permanent Total funds Donations; Donations Forgotten poor of the world Christmas draw Gift Aid Capital donations i67.787 7,596 2,367 10,317 367,787 7,596 2,367 10,317 406,210 406,210 Total for 2022 388,067 406,?10 794,277 Total for 2021 )33,825 333,825 3 Income from other trading aelivilies Unrestricted funds Gener21 Total funds Income from trading activities- Sale of donated second hand clothes Printing sales Religious shop (St. Joseph's) sales Equestrian centre income Video royalties 6,763 9,870 22,867 60,828 6,763 9,870 22,867 60,828 9,638 Total for 2022 109,966 109,966 Total for 2021 98,082 98,082 Page 15
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 4 Other income Unrestricted runds General Totsl 2022 Total 2021 Government Grants received CJRS Grants received Rates refund Bank interest 36,054 12,247 5,000 180 65 65 65 65 53,481 5 C05t of generating funds Unrestricted funds General Tolal 2022 Total 2021 Printing supplies Religious shop {St, Joseph's) purchases 26,880 17,645 26,880 17,645 22,886 44,525 41,275 6 Expenditure on charitable activities Charitable expenditure Unrestricted (unds General Tot21 2022 Total 2021 Donations Donations to the Forgotten Poor of the World Hospitality Music ministy Photography Viral video Equestrian activities {Youth out-reach) 120 8.971 13,882 1,408 8,944 120 8,271 13,882 1,408 8,944 227 9,129 12,737 4,416 5,679 6,141 22,024 57,105 57,105 94,36) Page 16
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) Support costs Unrestricted funds General Endowment fund5 Permanent Total 2022 Total 2021 Note Wages and salaries Rent 89.705 25.222 7,189 89,705 25,222 7,189 81,747 Rates Light & heat Insurance 12,360 85,582 6,268 21,411 8.530 12,837 24,814 6.224 80 9,290 Repairs Telephone and fax Postage Stationery and printing Sundry expenditure Motor expenses Travel and subsistence Legal fees Bank charges Depreciation of land & buildings Depreciation of land & buildings Depreciation of plant & machinery Depreciation of fixtures & fittings Depreciation of motor vehicles Profit/(Loss) on sale of asset Loan interest Independent Examiner's remuneration 85.582 6,268 21,411 9,207 6,963 24,063 2,697 623 24,814 6,224 80 3.336 38.844 37,753 6,884 6,884 42,779 42,779 29,837 5,412 5,412 3,636 12,570 (i.)97) 12,570 {),397) 8,000 (8,463) 406 2,88? 2.726 4J4,110 6,884 440,994 J57,807 7 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page17
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 8 Staff costs The aggregate payroll costs were as follows: The monthly average number of person5 (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents wa5 a5 follows: 2022 No 2021 No Printing Equestrian No employee received emoluments of more than £60,000 during the year 9 Independent examiner's remuneration 2022 2021 Examination of the financial statements 2,094 1,960 Other fees to examiners Fee paid for local compliance in Poland 788 766 Independent Examiner's remuneration 2,88? 2.726 10 Taxatio The charity is a registered charity and is therefore exempt from taxation. Page18
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) I l Tangible fixed assets Land and buildings Furniture and equipment Other tangible rixed asset Motor vebicles Total Cost At l January 2022 Addition5 1,895,976 390,393 53,017 24,242 70,398 252,947 54,889 2,272,338 469,524 At 31 December 2022 2,286.J69 77,259 70,398 )07,8)6 2,741,862 Depreciation At l January 2022 Charge for the year J70,J8J 45,728 20,118 12,570 123,770 531,40J 106,489 5.412 At J l December 2022 416,111 22,544 166,549 637,892 Net book value At 31 December 2022 1,870.258 54,715 i7,710 141,287 2,103,970 At J l December 2021 1,525,59J 50,280 129,177 1,740.935 12 Stoek 2022 2021 Stocks 5,975 6.050 13 Debtors 2022 2021 Trade debtors VAT recoverable Other debtors 1,926 1,666 345 5,452 345 5,797 3.937 14 Cash and cash equivalents 2022 2021 Cash at bank 38,624 67,879 Page 19
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 15 Creditor5: amounts falling due within one year 2022 2021 Bank loans Trade creditors Accruals 3.322 26,323 12,965 56,804 42,481 16 Creditors: amounts falling due after one year 2022 2021 Bank loans 17 Funds Balance at 31 December 2022 Incolning resources Resources expended Unrestricted funds General 498,098 (572,998) (74,900) Endowment funds Pemanent 406.210 (6.884) 399,326 Total funds 904,J08 (579.882) J24,426 Balance at 31 December 2021 Incoming resources Resources expended Unrestricted funds General 485.388 (459,435) Endowment funds Permanent Total funds 485,388 (459,435) 25,953 Page 20
Docusign Envelope ID.. C16BE43F-5E8&414145C24F6B2AF9AC4B An Invitation To Love Jesus Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 18 Analysis of net a55ets between funds Unrestricted funds General Total funds at 31 December 2022 Tangible fjxed assets Current assets Current liabilities 2,103.970 50,396 (56,806) 2,IOJ,970 50,396 (56,806) Total net assets ? 097,560 2,097.560 Unrestricted funds General Total fund5 at 31 December 2021 Tangible fixed assets Current assets 1,740,9J5 77,866 (42,481) (J.184} 1,740,9J5 77,866 (42,481) (J,184) Current liabilities Creditors over l year Total net assets 1,77J.lJ6 1,773,136 19 Related party transactions During the year the charity made the following related party transactions: All the staff are related to two of the trustees The activity of ¢haril>' is supported by its volunteers. and it is not unusual for volunteers to be related to some of the trustees. When a paid employment position is being considered then the charity first looks to its pool of volunteers for possible candidates. The volunteers are all committed to the religious ethos of the charity.. which is considered a vital qualification by the trustees. and they will have experience of worklng within the charity. Any offer of employment and relaled salary is approved by a meeting of the trustees by secret ballot. Any related trustees leave any meeting before any discussions on the employment of their relative and the secret ballot. Page21